Conversion rate and optimization is two most common buzzwords in e-commerce marketing. For any thriving e-commerce business to grow and have presence, a website is crucial. Be it getting more customers or increasing your outreach, a great website can rake in lots of popularity for your brand. This is where the word optimization comes into play. Optimization means improving aesthetics of your website, making it user-friendly, attractive and easy to navigate. Conversion Rate Optimization of website points to working on the design of your website. On the other hand, the second buzzword Conversion Rate Optimization focuses on getting more conversions from visitors. Conversion has different definitions for different businesses. The technical term for optimizing your online platforms to have more conversions is Conversion Rate Optimization (CRO). Conversions could mean any of the following:
- Getting the visitor to buy something from your site
- Earning a social media share
- Having the visitor to sign up for email
- Receiving a positive review on a product
- Users adding items to their wish list or cart
- Any other Key Performance Indicator (KPI) your business might have
On an average, an e-commerce website has 1-2% conversion rate. That means out of 500 visitors on your website, if 10 buy a product, your conversion rate estimates to 2%, which is considered pretty good. The tricky part is getting conversion rates above 2%. There are a lot of business analytics tools you can use to do Conversion Rate Optimization on your website. Some of the commonly used ones are described below:
- Inspectlet: is a smart tool that records your visitors’ activities right from the start. What did they click on, what’s their location, how long did they use your website and the like. You can sign up on Inspectlet and get free trial recording sessions of your users’ activities.
- Mixpanel: Just like Inspectlet, Mixpanel records your users’ activities discretely. However, it’s a shade better than Inspectlet as it gives you detailed information about which labels/tags have high influence on customers’ engagement. This tool is perfect for running A/B tests and determining which layout on your website prompts the visitors most.
- CrazyEgg: is an amazing analytical visualization tool that shows you where the users are scrolling and clicking. It uses heatmap and other visualization techniques to give a clear picture of Conversion Rate Optimization your users’ activity.
- Google Analytics: is the most commonly used Analytics tool by e-commerce sites. It includes everything from how much time users stayed, are he users new or returning, how many users converted, what is the users’ location, what operating system are they using etc. It also links to your Google AdWords campaign so that you can track your online paid traffic.
- BigCommerce Analytics: is a great analytics tool if you have a lot of customers. It helps you track abandoned products and things that don’t tick with the users. Its dashboard contains multiple functionalities. Its accurate at diagnosing what doesn’t go well with your customers.
You can use the above-mentioned tools for Conversion Rate Optimization depending on your current requirements. Other than selecting the right analytics tools, there are some tips and tricks that should be practiced to increase your Conversion Rate Optimization. Without further ado, lets dive straight into those:
- Use HD or high-quality images on your website. Visuals can prove to be serious deal breakers. If your product images are not clear, the customer loses interest in the first second. To retain customers and pique their interest, don’t compromise on the quality of images. Use as detailed and sharp images as possible.
- Thanks to big retailers like Amazon, free shipping is a fad that doesn’t seem to go away anytime soon. Your customers are accustomed to the scheme of free shipping. You can view it as psychological behavior; customers think free shipping is a deal even if it isn’t. So, make sure to offer free delivery on most products so as not to lose business. Cover the costs incurred in other ways
Conversion Rate Optimization
- With so much competition in the market, it’s difficult to stay ahead. With so many companies selling the same products, the race to get customers can be insane. This is where prices come into play. In order to retain customers, adjust prices of popular products at regular intervals. To achieve more conversions, you have to set your prices below the average. It could be a matter of mere 2 bucks and you can lose a deal.
- Track how easy your ecommerce checkout process is. Many websites have a complicated checkout system that confuses the customers and leads to loss of business. The last thing you want is to lose out on a customer just because your cart checkout process was difficult to use. Most easy to use systems are usually one-page instructions and then direct the customer to the page. You can use BigCommerce Analytics to track your system and run A/B testing.
- Have a cart abandonment software. Cart abandonment means when a customer has added a product to cart, filled out all details but backed out at the last moment. They have left your store. To encounter this, you can have a cart abandonment software like BigCommerce, which sends a follow up email to the customer who abandoned the cart. The email gives the incentive of discount or a coupon code to avail one, to complete the order. Having such a system in place increases Conversion Rate Optimization by a large amount and ups your numbers. Acting on cart abandonment has shown amazing results for ecommerce sites.
- Use live chat software. You should implement this only if you have time during business hours and can chat with the customer directly. Installing this service can surely have a positive impact
on your customers as it helps create a personable touch between both parties.
- Structure your website in a way that customers can easily navigate between categories. Bifurcate logically and use as little levels as possible. Also allow customers to filter products by color, price range etc.
- Make your payment and checkout system easy. The customers are already unwilling to type many details. So, make sure you use automation like, if you want the date of birth of customer use the date selection chart instead of making the customer type. Also link digital wallets like Paytm, PayPal, PayUMoney etc. so the users don’t have to waste much time on filling out basic details and card information.
These were some highly useful Conversion Rate Optimization tips to get you more business and boost customer loyalty. Effective execution of these can up your conversion game.